Multifamily Line of Credit

For more information, download our loan sheet:

Multifamily Line of Credit

Case Study

EBALDC, Strategic Acquisition Fund

EBALDC | Strategic Acquisition Fund

EBALDC used NC’s $4.6 million line of credit as quick “mezzanine” financing to purchase Casa Grande, a 32-unit property in East Oakland. Part of EBALDC’s Strategic Acquisition Fund, Casa Grande will be kept property affordable in the face of rapidly rising rents.

We appreciate NeighborWorks Capital’s willingness to take on a project, and the team’s ability to underwrite and close the loan in a short time frame. We can’t thank them enough for closing this project and for the other financing tools they have provided to EBALDC to help advance our mission. ~ Jason Vargas, Director of Real Estate Development, East Bay Asian Local Development Corporation




To purchase operating properties for creating new or preserving affordable apartments where fast action is required

Loan amount

Up to $10,000,000

Loan term

36 to 60 months, 24-month draw period

May be longer for significant redevelopment programs in conjunction with local agencies as development partners

Interest rate

From 6.00%, dependent on lien position, loan term, and complexity of the process to move the project to construction or other refinancing opportunities


First or subordinate liens on the property being acquired

Maximum LTV 85% for vacant properties
Maximum LTV 95% for operating properties (amortizing payments)

Repayment source

Construction or permanent financing, depending on project type and timeline


Application Fee - $1,000
Origination fee – 0.75% of loan amount
Draw fee – 0.75% of draw amount

Draws process

Each acquisition request is analyzed by NC prior to approval, with funding generally within 15 to 30 days of request

Third-party reports

Appraisal, Phase I/II environmental assessments, market study, capital needs assessment for operating property